Norway is heading straight into stagflation and at some point Norges Bank will be forced to tighten monetary policy into a weakening economy. The world should take note, because the real end game for central banks will come when they are constrained by rising inflation in a weakening economy. We all know what happened after the 1970s stagflation; and hiking rates to 20 per cent in an overleveraged world is a lot harder than it was back then.
Apple stock is sliding very modestly for now as Digitimes reports Tim Cook has asked downstream part and component suppliers in Taiwan to reduce quotes for iPhone 7 devices by as much as 20%...even though order volumes for new phones are reportedly 30% lower than those placed a year earlier.
For the establishment, his billions mean nothing; Trump’s treated like a bum. Underneath all this sound and fury, something else is (quietly) going on. Powerful business interests discreetly supporting Trump – and away from the media circus — are convinced he’s got the road map to victory. The question is whether he may be able to tame his erratic behavior to seal the deal.
Will the boys and girls still in the casino after the current election gong show is over patiently wait for their next fix from a beltway governance process that is in sheer pandemonium and stalemate? We think the odds are between slim and none. As we indicated previously, if Trump is elected the fiscal process will lapse into confrontation and paralysis for an indefinite spell.And if Hillary is elected, the Republican House will become a killing field for almost anything she proposes, and most especially the rank Keynesian apostasy of outright and massive debt monetization...
The Fed may have gotten everything wrong, as recent "research" by John Williams confirmed earlier this week, but when it comes to what's important the Fed is right on top of things. Things like starting its own Facebook page.
The irony is that these censors and would-be censors, such as the European Commission, the Dutch and Austrian courts, Facebook, Twitter are using their freedom of expression to suggest that someone else be robbed of his freedom of expression.
The leak of tools used by the NSA’s elite hacking team has resulted in speculation and finger-pointing in a desperate attempt to identify who could have exposed the government agency’s secrets. But one source says it was an inside job.
This isn’t a case of companies making a profit because the government has little to no say in regulating what goes on. In any given arms sale, the U.S. government is involved in the entire process. Yet this is the same government that claims to passionately care about gun violence domestically while enabling chaos and destruction around the world.
A discussion of why any knee-jerk falling gold and silver price responses to more hollow “hawkish” Federal Reserve minutes or even to future too-little, too-late, actual small interest-rate increases should be completely disregarded.
Over the last week, there has been little guidance from one of the market's most steadfast directional beacons, Dennis Gartman. Luckily, he provided some much needed insight into what asset classes may not do in the coming days, targeting not one but two key products: oil, where we would "err bearishly" and bonds, which he is now shorting.